Jackie is considering buying a 2014 tesla model s costing, Ask an Expert

Accounting

Jackie is considering buying a 2014 Tesla Model S costing $69,900 and finds that the retaining values of the vehicle over the next six years are as follows:

Percent of the total value retained after 36 months: 45%
Percent of the total value retained after 72 months: 29%

If her interest rate is 7% compounded annually, what is the ownership cost of the vehicle over 3 years? Six years?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9780191

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